Monster Beverage (NASDAQ:MNST) to Repurchase $250.00 million in Stock

Monster Beverage (NASDAQ:MNST) announced that its board has approved a stock buyback program, which authorizes the company to repurchase $250.00 million in outstanding shares on Thursday, March 1st. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Several equities research analysts have commented on the company. Zacks Investment Research raised Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup set a $70.00 target price on Monster Beverage and gave the stock a “buy” rating in a report on Monday, March 5th. Deutsche Bank raised Monster Beverage from a “hold” rating to a “buy” rating in a report on Monday, March 5th. Morgan Stanley dropped their target price on Monster Beverage from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, March 2nd. Finally, BMO Capital Markets dropped their target price on Monster Beverage from $71.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $65.87.

Shares of Monster Beverage (MNST) traded up $0.97 during trading hours on Thursday, hitting $57.21. The stock had a trading volume of 1,810,646 shares, compared to its average volume of 2,970,584. The company has a market capitalization of $31,860.16, a P/E ratio of 40.01, a P/E/G ratio of 1.71 and a beta of 1.14. Monster Beverage has a 1 year low of $44.35 and a 1 year high of $70.21.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $810.40 million for the quarter, compared to the consensus estimate of $841.25 million. Monster Beverage had a net margin of 24.36% and a return on equity of 22.54%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. equities analysts expect that Monster Beverage will post 1.78 earnings per share for the current fiscal year.

In other Monster Beverage news, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $64.53, for a total value of $902,322.99. Following the transaction, the insider now owns 967,456 shares of the company’s stock, valued at $62,429,935.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Kelly sold 15,000 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $58.31, for a total value of $874,650.00. Following the completion of the transaction, the vice president now directly owns 9,651 shares in the company, valued at approximately $562,749.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,139 shares of company stock worth $8,156,191. Corporate insiders own 9.40% of the company’s stock.

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About Monster Beverage

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

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